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| AEGON Religare Life Insurance launches a ULIP with the highest return (IRR) to customer |
| Announcement / Banking Sep 23, 2009, 19:23 IST |
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Reaffirmation of company's customer-centric approach; Product fully compliant with new IRDA guidelines
AEGON Religare Life Insurance today announced the launch of its unit linked insurance plan called AEGON Religare Invest Maximiser Plan, a ULIP with the highest IRR currently available in the industry. In other words, this plan has the lowest charges which help the customer maximise their investments.
Speaking on the occasion of the launch of AEGON Religare Invest Maximiser Mr. Rajiv Jamkhedkar, Chief Executive Officer of AEGON Religare stated - “The AEGON Religare Invest Maximiser Plan is aimed at providing the customer with the highest value and is a reiteration of our core strategy of being customer-centric both in terms of products as well as service and overall experience. We are very excited about the product. So confident are we about the product’s appeal to customers that we are even willing to pay a customer who brings in a better benefit illustration in terms of IRR Rs 1,000 as prize.”
The AEGON Religare Invest Maximiser Plan offers the following unique benefits.
- It offers the lowest premium allocation charge in the industry. The charges are at 5% for the first year and 2% from second to fourth year. There are no charges starting fifth year of the policy.
- It offers guaranteed special units to the policyholders starting from the end of the 10th policy year, and every 3rd year thereafter.
- It offers a life cover of 5 times the annualised premium.
- The AEGON Religare Invest Maximiser Plan offers 12 free switches every year and allows free systematic partial withdrawal, in addition to partial withdrawals. Systematic partial withdrawals allow the policyholder to receive payments either monthly, quarterly or annually.
- The customer also has the flexibility to pay premiums. The life cover does not lapse even if the policyholder stops paying the premium after three years.
- There is no surrender charge if the policy is surrendered after the completion of the 4th policy year.
- It offers tax benefits under section 80C and 10(10D). Money paid as premium is eligible for benefit under section 80C, and money received on maturity, death, surrender or withdrawal is exempt from tax under the section 10(10D).
The minimum entry age is 90 days and maximum being 50 years with a minimum annualised premium of Rs 12,000.
AEGON Religare Life Insurance is the coming together of AEGON, one of the world’s largest life insurance and pension groups and Religare, one of India’s leading integrated financial services groups.
AEGON’s businesses serve over 40 million customers in over 20 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ almost 32,000 people worldwide. The company’s common shares are listed on four stock exchanges: Amsterdam, London, New York and Tokyo. It manages EUR 351 billion in revenue generating investments. AEGON has more than 160 years of experience with its roots going back to 1844. It holds 26% equity in our company. http://www.aegon.com
Religare is a diversified financial services group of India offering a multitude of investment options. Financial services which Religare offers can be broadly clubbed across three key verticals - Retail, Institutional and Wealth spectrums. Religare has also ventured into the alternative investments sphere through its holistic arts initiative and Film fund. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates in the wealth management space under the brand name 'Religare Macquarie Private Wealth'. Religare has a pan India presence, 1837 locations across 498 cities and towns. It also currently operates from nine international locations following its acquisition of London's brokerage & investment firm, Hichens, Harrison & Co. plc. (Now Religare Hichens, Harrison Plc). http://www.religare.in
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